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Singapore CEA foreign property guides promote ‘caution and prudence’

Posted by: In: Real Estate 20 Mar 2014 Comments: 0 Tags: ,

The two new guides from Singapore’s Council for Estate Agencies encourage buyers to be cautious and prudent, says Tracey Wong, Executive Director of the Institute of Estate Agents

Another Singapore real estate expert has commented on the new CEA overseas property guides, saying they are encouraging buyers to be more prudent.

Singapore’s Council for Estate Agencies (CEA) has published Consumer Tips for Buying Foreign Properties and Practice Guidelines for Estate Agents and Salespersons Marketing Foreign Properties on its website.

Tracey Wong, Executive Director of the Institute of Estate Agents (IEA) in Singapore is among those welcoming the step.

She tells OPP Connect, “In my opinion, there are many foreign developers coming to Singapore to market their projects to Singaporeans. So, the CEA is encouraging potential buyers to be more prudent and be cautious when they embark into buying these properties.

“As a requirement, agents in Singapore who are appointed as marketing agents for foreign developers have a set of practice guidelines that they have to adhere to. More of such practice guidelines can be found on the CEA website.

“The current overseas property activities are pretty buoyant, with many foreign developers conducting their sales activities weekly.”

Previously, real estate training academy director, David Cheong said the guides …read more

Source: OPP



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